LG announces B2B strategic plan, MicroLED display becomes focus

On October 13, foreign media reported that LG announced a strategic plan to focus on developing its business solutions department and plans to double sales to US$7.5 billion by 2030. The division is responsible for B2B (business-to-business) business and IT equipment such as signage displays, commercial TVs, laptops and monitors, robots and electric vehicle charger products.

LG said that in terms of commercial and signage displays, the company will focus on the high-end small-pitch LED display business, including the development of its Micro LED MAGNIT series of products. LG further stated that MAGNIT Micro LED displays will be the forefront of this business expansion.

LG revealed that annual sales of MAGNIT have almost tripled since its launch in 2020. It is reported that LG has launched 118-inch and 136-inch Micro LED display products MAGNIT, priced at approximately RMB 1.737 million and RMB 2.199 million respectively.

At this year’s InfoComm 2024 in the United States, LG launched a new generation of 136-inch Micro LED display with a point pitch of P0.78 and an active AM glass-based driver. The latest news shows that LG plans toLaunch the next generation of AI-driven Micro LED TVs by the end of 2024.

In order to further achieve sales growth in the small-pitch LED display business, LG plans to provide more customized services and differentiated solutions. Its customized spliced MAGNIT TV may be in line with this sales model.